1391 MACTON ROAD, STREET MD. 21154 4 BEDROOM, 3.5 BATH, 4003 SQ FT., BUILT 2015 $ 949,900.00 4-Bed, 3.5 Bath, Beautiful Craftsman Style Rancher on 9.18 acres on Broad Creek, 4003 sq. ft. total finished, (3004 first fl., 1000 lower level). Lower level has one of the four bedrooms and one full bath. 3 car oversized 972 sq. ft. garage with stairwell to basement. Garage also has a 30,000 BTU wall-mounted propane heater, directly connected to the house propane system. Lower level has a full bath. Possible as a 4th bedroom. Exercise room lower level. The first floor has a very high- end kitchen with Silestone counters and a 48 inch, GE Monogram double oven/range. High end master bath with heated floor. Beautiful Office area on the main level looking out over the back lawn and wooded area. Has 2000 sq. ft. of storage in lower-level unfinished area. Dual heating and Air cond. with filtration system and two Honeywell WIFI thermostats. Anderson 400 Series windows and Anderson exterior doors. Kitchen has 42 inch Kraftmaid soft-close cabinetry, drawer stacks, spice racks etc. Kitchen area also has an oversize pantry, oversize mud room and oversize laundry room. Laundry room and lower-level exercise room have cork floors. Entire main level has Premium Hardwood flooring, except baths which have tile floors. Master bedroom has a California Closet System installed. The other 2 bedrooms also have large enclosed closets. House has Fiber Optic service. Outside has oversized commercial gutters and downspouts with underground drainage pits on all 9 spouts. Architectural Roof 40-year shingles. Garage has Clopay doors with battery-backup openers. Lower level has a separate expansion electrical breaker box in the water room. House has two extra dedicated refrigerator/freezer receptacles. Full upgrade front porch. There are five (5) ceiling fans, three tray ceilings and a cathedral ceiling in the great room. There are many cleared trails on the property, including along all the property lines and a vehicle-drivable trail down to Broad Creek . Can be adapted for horses on about 2 acres of the 9.18 acres. ONLY 1/3 OF AN ACRE OF LAWN TO CUT. Ground-level double doors on the lower level. 16kW Generac Whole-House auto switchover Generator. Owned 1000 gal. underground Propane tank. 20 by 12 shed with electric and an 18 by 20 covered pole barn ready for enclosure or whatever. Reverse-Osmosis water filter at kitchen sink as well as a whole-house sediment filter. Wet bar and wine cooler at dining room area. MUST SEE THIS EXCEPTIONAL HOME !!!
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
